Slide 1: FY24 H1 Results Presentation
IVE Group Limited (ASX : IGL) FY24 H1 Results Presentation idea 26 February 2024 execution
Slide 2: Contents
IVE Group Limited — FY24 H1 Results Presentation Contents Key highlights 3 Financial performance dashboard 4 Financials 5 Profit and loss 6 Balance sheet 8 Capital expenditure 8 Cash flow and interim dividend 9 Growth initiatives 10 Lasoo 11 Cornerstone acquisition of JacPak 12 Packaging – organic e
Slide 3: Key highlights
IVE Group Limited — FY24 H1 Results Presentation Key highlights Financial performance Growth initiatives > Revenue, material gross profit margin, EBITDA and EBIT up on a strong > Lasoo continues to show strong growth momentum and remains (record) pcp on‑track with previous guidance > Input pricing p
Slide 4: Financial performance dashboard
IVE Group Limited — FY24 H1 Results Presentation Financial performance dashboard 1 Solid interim performance (versus record PCP) with Ovato integration and JacPak acquisition completed Normalised for $5.6m REVENUE EBITDA NPAT EPS non‑recurring Ovato $506.0m $65.8m $22.7m 14.8¢ (Warwick Farm) EBIT lo
Slide 5: Financials
Financials
Slide 6: Profit and loss
IVE Group Limited — FY24 H1 Results Presentation Profit and loss 1 Input pricing pressure abating, margins improving FY24 H1 FY23 H1 Variance $m $m % Revenue 506.0 502.8 0.6 Material profit 233.6 222.3 5.1 % of revenue 46.2% 44.2% 4.4 EBITDA 65.8 65.0 1.3 % of revenue 13.0% 12.9% 0.9 Depreciation an
Slide 7: Revenue, underlying earnings and material gross profit margin
IVE Group Limited — FY24 H1 Results Presentation Revenue Underlying earnings > Revenue increased 0.6% to $506.0m from $502.8m pcp, inclusive of > EBITDA increased 1.3% to $65.8m from $65.0m pcp, with the incremental modest incremental revenue from Ovato (acquired 13 September 2022) contribution from
Slide 8: Balance sheet and capital expenditure
IVE Group Limited — FY24 H1 Results Presentation Balance sheet Capital expenditure Increase in net debt reflects JacPak acquisition and peak Continued investment to ensure market leading asset base working capital seasonality Net debt FY24 H1 FY23 Capital expenditure FY24 H1 $m $m $m Loans & borrowi
Slide 9: Cash flow and interim dividend
IVE Group Limited — FY24 H1 Results Presentation Cash flow and interim dividend Improved operating cash flow as inventory/working capital levels normalise Cash flow and dividends FY24 H1 FY23 H1 $m $m EBITDA 65.8 65.0 Movement in NWC/non-cash items in EBITDA (10.5) (28.2) Operating cash flow 55.3 36
Slide 10: Growth initiatives
Growth initiatives
Slide 11: Lasoo — continued strong growth momentum
IVE Group Limited — FY24 H1 Results Presentation Lasoo — continued strong growth momentum > Following its successful launch in October 2022, Lasoo continues to > In November 2023 (and reflecting Black Friday sales), Lasoo generated show strong consecutive month-on-month growth an annualised GTV of $
Slide 12: Cornerstone acquisition of JacPak
IVE Group Limited — FY24 H1 Results Presentation Cornerstone acquisition $800m+ folding carton market of JacPak 11% (balance) 2% 2% > The Group entered the Australian fibre-based packaging sector1 with 2% the cornerstone acquisition of JacPak on 31 October 2023 25% 3% > JacPak is a leading Melbourne
Slide 13: Packaging – organic expansion
IVE Group Limited — FY24 H1 Results Presentation Packaging – organic expansion > Given the fragmented nature of the fibre-based packaging market, IVE sees an opportunity to achieve a meaningfully stronger market position over time - while opportunistic ‘bolt-on’ acquisitions may be considered, the p
Slide 14: IVE Group Limited — FY24 H1 Results Presentation
IVE Group Limited — FY24 H1 Results Presentation 14
Slide 15: FY24 outlook and guidance
FY24 outlook and guidance
Slide 16: FY24 outlook and guidance
IVE Group Limited — FY24 H1 Results Presentation FY24 outlook and guidance 1 > Encouraged by a solid first half and continued momentum, the Group > Significant items excluded from guidance and underlying earnings reaffirms the FY24 underlying earnings guidance range reiterated at include the followi
Slide 17: Outlook and guidance (continued)
IVE Group Limited — FY24 H1 Results Presentation Outlook and guidance (continued) > Capital expenditure is expected to be around $18.5m, including $4.5m relating to the final phase of the Ovato integration > Although slightly elevated at 31 Dec 2023 due to the funding of the JacPak acquisition and p
Slide 18: Appendices
Appendices
Slide 19: Appendix A
IVE Group Limited — FY24 H1 Results Presentation Appendix A IFRS Profit and Loss IFRS to underlying NPAT reconciliation FY24 H1 FY23 H1 Variance FY24 H1 $m $m % $m Revenue 507.6 504.2 0.7 IFRS NPAT 13.0 Material profit 234.6 223.0 5.2 Restructure costs 8.7 % of revenue 46.2% 44.2% 4.5 Acquisition co
Slide 20: Appendix B: Balance Sheet
IVE Group Limited — FY24 H1 Results Presentation Appendix B IVE Group Limited Balance Sheet FY24 H1 FY23 $m $m Current Assets Cash and cash equivalents 41.7 44.9 Trade receivables, prepayments and other 165.3 146.6 Inventories 83.1 98.7 Current tax receivable 4.8 1.2 Assets held for sale — 1.1 Total
Slide 21: Appendix C: Packaging landscape
IVE Group Limited — FY24 H1 Results Presentation Appendix C Packaging landscape Strategically attractive adjacency > During 2022, the Group completed an in-depth analysis of the Australian packaging industry > Key success indicators include an identified pathway to establish a packaging business tha
Slide 22: Appendix D: Disclaimer
IVE Group Limited — FY24 H1 Results Presentation Appendix D Disclaimer No recommendation, offer, invitation or advice this presentation. No recommendation is made as to how subject to change without notice, as are statements This presentation contains general information about the investors should m
Slide 23: IVE Group Limited
IVE Group Limited ABN 62 606 252 644 Level 3, 35 Clarence Street Authorised by the IVE Board Sydney NSW 2000 Contact: Geoff Selig Tony Jackson Executive Chairman Investor Relations Tony.Jackson@ivegroup.com.au Matt Aitken +61 2 9089 8548 Chief Executive Officer +61 410 499 043 Darren Dunkley Chief F